{"id":36148,"date":"2026-08-03T05:50:57","date_gmt":"2026-08-03T05:50:57","guid":{"rendered":"https:\/\/bitunikey.com\/news\/sec-sets-aug-24-deadline-in-nasdaq-bitcoin-options-review\/"},"modified":"2026-08-03T05:51:33","modified_gmt":"2026-08-03T05:51:33","slug":"sec-sets-aug-24-deadline-in-nasdaq-bitcoin-options-review","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/sec-sets-aug-24-deadline-in-nasdaq-bitcoin-options-review\/","title":{"rendered":"SEC sets Aug. 24 deadline in Nasdaq Bitcoin options review"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">The U.S. Securities and Exchange Commission kept Nasdaq PHLX\u2019s proposed Bitcoin index options on hold after granting CME Group\u2019s petition for a full Commission review.\u00a0<\/p>\n<div id=\"cn-block-summary-block_f917db394e23938fdaef78af6eb70416\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>SEC commissioners granted CME\u2019s petition, keeping Nasdaq\u2019s Bitcoin index options approval stayed pending further order.<\/li>\n<li>Written statements supporting or opposing the approval must reach the SEC by August 24, 2026.<\/li>\n<li>CME argues Bitcoin index options are commodity swaps falling under the CFTC\u2019s exclusive federal jurisdiction.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>The SEC <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/files\/rules\/other\/2026\/34-106005.pdf\" target=\"_blank\" rel=\"nofollow\">issued<\/a> the order on July 29, and its Aug. 3 publication in the Federal Register set Aug. 24 as the deadline for written statements supporting or opposing the earlier approval.<\/p>\n<p>The order does not decide whether CME\u2019s jurisdictional challenge is correct. It accepts the matter for review and leaves the May 22 approval stayed until the Commission issues another order.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">JUST IN: SEC freezes Nasdaq Bitcoin options approval<\/p>\n<p>The decision follows a jurisdictional challenge from CME regarding Bitcoin\u2019s commodity status <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/bXAJqTj1mH\">pic.twitter.com\/bXAJqTj1mH<\/a><\/p>\n<p>\u2014 crypto.news (@cryptodotnews) <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/cryptodotnews\/status\/2084007829531406650?ref_src=twsrc%5Etfw\">August 2, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\"><strong>SEC review leaves Nasdaq Bitcoin options unable to launch<\/strong><\/h2>\n<p>Nasdaq PHLX <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/files\/rules\/sro\/phlx\/2026\/34-105549.pdf\" target=\"_blank\" rel=\"nofollow\">proposed<\/a> cash-settled, European-style options under the ticker QBTC. The contracts would track the CME CF Bitcoin Real Time Index divided by 100. Final settlement would use the New York variant of the CME CF Bitcoin Reference Rate, also divided by 100.<\/p>\n<p>The proposed rules set a 24,000-contract position and exercise limit. Unlike options on spot Bitcoin ETF shares, QBTC would reference an index tracking Bitcoin itself. That distinction created the central dispute because ETF shares are securities, while Bitcoin is treated as a commodity for federal derivatives regulation.<\/p>\n<p>SEC staff approved the rule change through delegated authority on May 22. CME filed notice of its planned appeal on June 11, automatically staying that decision. It submitted its formal petition on June 18 and asked the commissioners to vacate the approval.<\/p>\n<h2 class=\"wp-block-heading\"><strong>CME says the contracts belong exclusively under CFTC rules<\/strong><\/h2>\n<p>CME argues that Bitcoin is a non-security commodity and an option based directly on Bitcoin\u2019s value is a commodity option swap. On that basis, it says the Commodity Exchange Act gives the Commodity Futures Trading Commission exclusive authority over the contracts.<\/p>\n<p>The exchange operator called the SEC staff\u2019s legal interpretation \u201cerroneous\u201d and argued that the Division of Trading and Markets exceeded its delegated authority. Those remain CME\u2019s claims. The SEC\u2019s review order did not endorse them or make findings on the merits.<\/p>\n<p>CME also said the approval could expose its exchanges and clearing business to new regulatory costs while allowing a competing product. It asked the full Commission to withdraw the staff approval rather than await the separate CFTC exemption process.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Nasdaq says joint oversight offers a compliant route<\/strong><\/h2>\n<p>The May approval took the opposite legal view. SEC staff reasoned that Dodd-Frank Section 717 could permit concurrent SEC and CFTC jurisdiction when the CFTC grants appropriate relief. Nasdaq also said the product could let spot Bitcoin ETF investors hedge exposure on a national securities exchange within the same margin framework.<\/p>\n<p>However, SEC approval alone was never enough to begin trading. Nasdaq acknowledged that it must obtain all necessary CFTC exemptions, including relief allowing the Options Clearing Corporation to clear the contracts without registering as a CFTC derivatives clearing organization. OCC must also update its standardized options risk disclosure.<\/p>\n<p>As previously reported, Nasdaq has continued expanding its crypto infrastructure by distributing exchange order-book data through Pyth. In related coverage, Nasdaq and CME partnered on crypto index futures tracking several digital assets. The current dispute is narrower because it concerns options tied directly to Bitcoin rather than Bitcoin ETF shares.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Aug. 24 filings will shape the SEC\u2019s next decision<\/strong><\/h2>\n<p>Interested parties now have until Aug. 24 to file statements. After reviewing those submissions, commissioners will determine whether the staff approval should stand. The order provides no deadline for a final Commission decision.<\/p>\n<p>The case could affect more than QBTC. CME warned that approval could create a route for securities exchanges to list derivatives tied to other non-security commodities under SEC rules. That is a forward-looking legal argument, not an outcome established by the Commission.<\/p>\n<p>For now, Nasdaq\u2019s Bitcoin index options remain stayed. Even if the SEC later restores the approval, Nasdaq would still need the required CFTC relief and OCC approvals before listing the contracts.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<div class=\"cnus-hub-promo\" style=\"margin:2rem 0;padding:1rem 1.25rem;border-left:4px solid #2563eb;background:#f0f5ff;border-radius:0 6px 6px 0;\"><strong>US Crypto Regulations<\/strong> : Read the full US Regulation Hub for the latest on SEC enforcement, IRS crypto tax rules, and pending legislation.<\/div>\n<\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission kept Nasdaq PHLX\u2019s proposed Bitcoin index options on hold after granting CME Group\u2019s petition for a full Commission review.\u00a0 Summary SEC commissioners granted CME\u2019s&hellip;<\/p>\n","protected":false},"author":1,"featured_media":35321,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-36148","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/36148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=36148"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/36148\/revisions"}],"predecessor-version":[{"id":36149,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/36148\/revisions\/36149"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/35321"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=36148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=36148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=36148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}